Former president Donald Trump and his family have announced the upcoming launch of their decentralized finance (DeFi) project World Liberty Financial, along with the introduction of a new governance token called WLFI. The confirmation came during a discussion on the social media platform X, where Trump and his sons engaged with crypto investor and entrepreneur Farokh Sarmad, who acted as a spokesperson for the project.
Sarmad emphasized the importance of broad-based participation in the direction of the World Liberty Financial platform and decentralized finance as a whole. He explained that the governance token, WLFI, will enable token holders to make proposals and vote on matters related to the platform. The distribution of WLFI tokens will see 63% sold to the public, 17% allocated for user rewards, and 20% reserved for team compensation.
The project’s roadmap outlines its mission to promote stablecoins pegged to the US dollar and decentralized finance globally. In an interview on the Unchained podcast with Laura Shin, Ogle, a security advisor for World Liberty Financial, acknowledged the heightened security risks due to the project’s political implications. He mentioned that the team has been implementing various security measures to prevent potential breaches.
As of now, WLFI has not yet been launched, but the team is actively working towards its release. With the project garnering attention for its unique approach to DeFi and governance tokens, it is expected to make a significant impact in the cryptocurrency space.
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